Tie Layer Resin Market Size By Base Resin (LLDPE, LDPE, HDPE, EVA, PP), By Application (Flexible Packaging, Rigid Packaging, Compounding), By Resin Type (Reactive, Non-reactive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends,

Tie Layer Resin Market Size By Base Resin (LLDPE, LDPE, HDPE, EVA, PP), By Application (Flexible Packaging, Rigid Packaging, Compounding), By Resin Type (Reactive, Non-reactive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2030

The tie layer resin market size is poised to register commendable growth over the forecast period. This growth is credited to the growing adoption of TLRs in the marine and automotive sectors.
Major companies are becoming actively involved in strategic business activities to reinforce their position and fuel growth of the tie layer resin market. Citing an instance, Foster Corporation signed an exclusive sales agreement with SKFP (SK Functional Polymer), a subsidiary of SK Global Chemical. This deal enabled Foster to exclusively serve the medical device market in North America through Orevac*18300M, a PE-based tie layer polymer, augmenting the market growth.
Despite being effectively used for various forms of packagingmulti-layered plastic packaging has a low recycling rate, which may impede market demand. Multi-layered packaging consists of two different layers, which complicates the process of recycling.
Moreover, separating the two layers is costly which could restrain product adoption. A surge in plastic waste has further hampered industry growth. For example, over 40% of plastic waste is produced from food packaging which contains muti-layered packaging.
The tie layer resin market is divided in terms of base resin, application, resin type, and region.
Considering the base resin, the PP tie-layer resin market is estimated to be valued at USD 2.5 billion by 2030. This is credited mainly to the robust characteristics of polypropylene such as stiffness, hardness, and strength in comparison to other polymers.
PP-based tie layer resin has a broad application scope, including rigid packaging, owing to robustness, high-quality finish, and cost-effectiveness, which may contribute to segmental growth.
Furthermore, the others segment is set to be valued at more than USD 250 million by 2030. SEBS, or, styrene-ethylene-butylene-styrene polymers are flexible, have better surface characteristics, and contain heat and UV resistance which enables them to be used in many applications. SEBS is being increasingly used for protecting the product from external factors, propelling industry growth.
In terms of resin type, the non-reactive resins segment accounted for a 37% market share in 2021. EVA, or ethyl vinyl acetate, is a thermoplastic that is tough, elastic, and possesses excellent gloss and clarity.
Furthermore, robust characteristics of EVA, such as affordability, good puncture resistance, and flex-crack as well as good hot-tack and heat-sealing are anticipated to augment market growth over the coming years.
With respect to application, the others segment is poised to be valued at over USD 760 million by 2030. Tie layer resins are used in the automotive industry in gas tanks and door panels. Metal cladding makes more resistant, durable, and lighter roofing in comparison to conventional roofing, which may stimulate segmental development.
From a regional standpoint, the Middle East & Africa TLR market will register a valuation of over USD 950 million by 2030. This can be credited to growing industrialization and rapid urbanization.
The tie layer resin is used for applications such as heating and sanitary pipes, cable sheath, and aluminum panels for building exteriors. Additionally, the rising usage of TLRs in packaging and agriculture applications will drive regional market demand.